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Personal Loan Calculator

Estimate your monthly personal-loan repayments and total interest cost. Use the sliders to compare debt consolidation, renovation, medical, and wedding loan scenarios after the May 2026 rate hike.

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Personal Loan Repayments

Personal loans cover everything from debt consolidation to renovations to weddings. The right rate depends on whether the loan is secured, your credit profile, and the term you choose.

May 2026 Rate Range

Secured 7.95% to 12.95%, unsecured 11.95% to 16.95% for prime borrowers.

Secured vs Unsecured

Security against a vehicle reduces the rate by 4 to 6 percentage points.

Term: 1 to 7 Years

Shorter terms cut total interest; longer terms reduce monthly repayments.

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Loan Calculator

Loan amount$25,000
$2,000$80,000
Interest rate12.50% p.a.
6.00% p.a.22.00% p.a.
Loan term5 years
1 year7 years
Monthly repayment
$562.45
Total interest
$8,747
Total repayment
$33,747
Principal 74.1%Interest 25.9%
Get a personalised quote

Estimates only. Actual rate and repayment depend on your lender, loan structure and credit assessment.

When a personal loan is the right product
  • Debt consolidation: paired with closing or freezing the consolidated cards.
  • Renovation under $50k where you do not have property equity to redraw against.
  • Vehicle purchase where the asset is too old for a secured car loan.
  • Medical, wedding, or holiday spending where credit-card 0% offers do not cover the full amount.

A worked example: $25,000 over 5 years

Borrower: Prime credit, stable PAYG income, no existing personal loans

Purpose: Renovation

Major-bank unsecured at 13.95% over 5 years: monthly $580, total interest $9,800

Broker-sourced unsecured at 10.95%: monthly $543, total interest $7,580

Home loan redraw at 6.55% (if equity available): about $5,400 in interest over 5 years

Choosing the broker option over the major-bank rate saves $2,220 of total interest. The home loan redraw, where eligible, saves $4,400.

WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees, or other loan amounts might result in a different comparison rate. Comparison rates are based on a secured loan of $30,000 over 5 years for vehicle finance and $50,000 over 5 years for equipment finance, as required under the National Credit Code.

Personal Loan Calculator FAQs

Common questions about Australian personal loans in 2026.

What rate should I expect on a personal loan in May 2026?
Indicative rates after the May 2026 RBA hike: secured personal loans run 7.95 to 12.95% for prime borrowers, unsecured 11.95 to 16.95%. Specialty subprime rates run 16.95 to 22.95% for borrowers with credit impairments. The rate depends on credit score, income stability, loan amount, and whether the loan is secured.
Should I take a 3-year or 5-year personal loan?
Shorter terms reduce total interest paid; longer terms reduce monthly repayment. On a $25,000 loan at 12% unsecured: 3 years runs about $830/month, 5 years runs about $556/month. The 5-year option costs about $4,000 more in total interest. Match the term to how long you genuinely expect to be paying.
How does the comparison rate differ from the headline rate?
The headline interest rate excludes fees. The comparison rate combines the headline rate with most fees (establishment, monthly account, settlement) into a single figure for cross-lender comparison. A loan at 9.95% headline with a $295 establishment fee and a $10/month account fee may have a comparison rate of 11.45% on a $20,000 5-year structure.
Can I make extra repayments on a personal loan?
Most variable-rate personal loans allow extra repayments without penalty. Some fixed-rate products charge break fees if you pay out early, particularly in the first 1 to 2 years. Always ask the lender about early-payout policy in writing before signing.
How much can I borrow with a personal loan?
Most lender panels lend up to $80,000 unsecured and up to $150,000 secured against a vehicle, depending on credit profile and serviceability. The lender assesses your income, expenses, existing debts, and credit history; the maximum offered will usually be lower than what the lender could theoretically lend.

Related Guides & Tools

Compare options before locking in a personal loan.

Personal Loan Guide
The full 2026 playbook
What Is a Comparison Rate?
Cross-lender comparison
Debt Consolidation
Specialty consolidation lenders
Personal Loans Hub
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Refinance Calculator
Compare current vs new loan
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Get an Indicative Personal Loan Rate

Free comparison across the personal-loan broker panel. We will quote your comparison rate at your exact amount and term, and check whether a home loan top-up would be cheaper.

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